Bitcoin OG Moves 20,000 BTC After 14 Years, Realizes 2,459:1 Profit

A Bitcoin OG has moved 20,000 BTC after more than 14 years of inactivity, marking a historic event in the cryptocurrency's history. The two transactions, each transferring 10,000 BTC, were recorded on July 4, 2025. This event is unprecedented, as these coins were last moved on April 2, 2011, when the price of each transaction was just $7,793. Based on current market prices, the total transfer is now valued at approximately $2.19 billion.

The movement of these long-dormant coins had a direct effect on Bitcoin on-chain metrics. The Long-Term Holder Spent Output Profit Ratio (SOPR) surged, indicating a substantial realized profit. The holder turned about $15,500 into more than $2.19 billion, reflecting a 2,459:1 profit ratio. Additionally, Coin Days Destroyed (CDD) spiked, measuring how long coins have been held before being moved. The total CDD for this event exceeded 104 million coin days destroyed in a single day, highlighting the rarity of such long-term movements.

Despite the large transfer, Bitcoin market sentiment remains stable. On-chain data provider noted that the Net Unrealized Profit/Loss (NUPL) score is still in the green. This indicator reflects the unrealized gains held by current holders and acts as a broad indicator of market behavior. Analysts suggest that current data does not resemble the overbought conditions seen during previous market tops in 2017 and 2021, indicating that the market has not yet peaked.

Some analysts are beginning to set expectations for the remainder of the current bull cycle. If Bitcoin follows the same pattern as 2020, the market may reach its peak by October 2025. This timeline is based on the 550-day post-halving period that ended in a market peak in the previous cycle. As historical cycles and on-chain activity converge, attention remains on both price action and long-term holder behavior.